Karnataka Iron ore e-auctions conducted on 29 Apr’15 & 30 Apr’15 fetched dull response. Out of 0.86 MnT Iron ore offered by NMDC & private mines, only 0.24 MnT was sold.
Key Aspects of E-auction held on 29 Apr’15:
- 0.42 MnT Iron ore was offered by NMDC Kumarswamy mines, out of which 0.19 MnT was sold
- 79% of the allotted material comprised of fines & remaining of lump
- JSW Steel was the largest buyer at 0.12 MnT followed by BMM Ispat
- Lump (Fe 62.5%) was sold at INR 2,500/MT and fines (Fe 60%) was sold at INR 1,290/MT
Key Aspects of the E-auction held on 30 Apr’15:
- 0.44 MnT Iron ore was offered by private miners. Out of the offered quantity 0.05 MnT was sold. 85% of the sold quantity belonged to Sesa Sterlite
- Buyers namely Sathvahana Ispat, BMM Ispat, Suvan Steels & Kirloskar Ferrous industries collectively procured 0.03 MnT
- Fines (Fe 59.5%) fetched flat bids. Bid prices for fines (Fe 59.5%) stood at INR 1,160/MT. While, for lump (Fe 58%) bid prices was at INR 1,900/MT
1.75 MnT Iron Ore sold in Apr’15
In Apr’15, 1.75 MnT Iron ore (1.07 MnT fines, 0.57 MnT lump and 0.11 MnT low-grade ROM) was sold via Karnataka e-auctions. NMDC sold 1.05 MnT and remaining was sold by the private miners.
JSW Steel was the largest buyer at 1.09 MnT followed by BMM Ispat & Kej Minerals. JSW Steel Iron ore procurement from Karnataka has fallen from 1.12 MnT in Mar’15 to 1.09 MnT in Apr’15. JSW Steel has resumed its purchases from NMDC Chhattisgarh after 6 months and loaded 11 rakes from NMDC.
Note: Grade & prices are Weighted Average
Prices mentioned are basic
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